You know how when you were a kid, you’d think about something coming up that you were really looking forward to – like Christmas or your birthday or vacation – and then it would come and you were all, “This is it?”
The tax deal passed last night in the House. It was kind of like that.
Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains tax news, IRS updates, scams, financial crime, and money in plain English.
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So we get a small tax increase in the form of the estate tax and a shot of heroine through the SS withholding…. For a fiscal conservative I guess this really shows how low our expectations of congress are when we cheer them on just for not raising our taxes today, but kicking the can down the road a little further. Nothing to see here, just more pandering, and less confronting our spendthrift problems (thats the conservative in me talkin’). What ever happened to the “highly regarded” debt reduction panel and their advise?
Out of curiosity, do you know a good website with a summary of what the new tax bill passed?
I started searching but mostly found news articles about the vote itself…
I’ll toot my own horn and say start here: http://www.taxgirl.com/the-morning-after-the-tax-deal-hangover/
That was the original deal (not too much has changed). I’m working on an update.
Does this include the LTCG at 0% in the lowest bracket that we had the last 2 years?